What would be the future for banks?
Blockchain technology can be used to give access to financial services to billions of people around the world. Bitcoin allows anyone to send money across borders almost instantly and with little fees. How do you see the future for Banks?
That's a very valid argument. Internet changed the entire market dynamics for media in a better way. Traditional methods got scrapped and new methods were invented to upscale the entire industry. I am sure blockchain can do the same thing to banks. But there is a little difference though.
That will not be the same case for cryptos though. We have already started seeing organized protests against the adoption of cryptocurrency by the banks. So when they are protesting against cryptocurrency it is a protest against blockchain as well. So for this reason they will be reluctant at first to experiment with blockchain technology.
So I don't see the change happening very quickly. Also a probability factor comes in with that. So probably blochchain is the future for the banks, but it will come at a cost.